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Purchase of a chateau in Czechia

If you are looking for a villa with park there are not many ways how to acquire it. Vilas or homesteads do not have parks. Should homestead have fields or forest these are usually not in one piece and may be far from the building itself. Often the only way forward is to buy a castle. And in addition to that chateau parks shall be cheaper than other types of land because land speculators do not buy them. Reason? Chateau parks are as a rule protected and cannot be built on.

It is possible to buy a chateau in Czechia for a price of a two room apartment in Prague. But such a property shall require full refurbishment. Refurbished chateaux can be purchased starting from one million euro. Luxury properties from about 3 million euros upwards. If you plan to purchase a castle please do not rely on mortgage, banks do not want to finance purchase of chateaux. Banks could finance reconstruction of the chateau that you already own. There are state grants available for repairing roofs and facades of historical properties.

Utilisation of castles

Many chateaux improve their finances by providing their facilities to the organisers of international conferences and staff training. Castle provides dignified venue for such events and moreover it is good that participants have to concentrate on the programme and cannot pursue their private matters when the town is not close by. Cultural activities such as concerts of classical music or museums tend to be loss making, unless you find good sponsors. The chateau can serve as a hotel if it is located near some historical or other point of interest. Or it must itself be the reason why people arrive.

Ideally the activities should be of the kind that can go on throughout the year. You can have there plastic surgery clinic, women appreciate that they can recover in the chateau and park environment where they would not risk meeting curious friends. Should your castle be close to a spa town you can take advantage of the infrastructure there and use local mineral sprig water in your hotel. Castles near the spa Trebon, where the peat is used to treat the joint diseases, there you can offer this treatment yourself using the local peat. Many castle owners adapt traditional castle tours and make them into a sort of theater performance.

Chateu in Czechia or elswhere?

If you compare the advertised prices of castles in the Czech Republic and e.g. in France and Spain etc., you may come to conclusion that it is cheaper to buy a castle there. But the first impression may be misleading. Let us say that you come across a chateau in France that is advertised for 700 thousand Euro. Foreigners do not realise that advertised price there does not include tax and other fees of about 10% that are taken from the buyer. Then you have to pay annual taxes that are several times higher than in Czechia. Some places they may charge you tax from rental income no matter that you do not rent you property out. It depends on the local government. And inheritance tax there is devastating. It can be 30% of the value of the castle in Spain, in France 45% and sometimes even even 60%. In Britain it is 45%. In many cases you may be responsible for maintaining things that are outside your property proper, e.g. repairing road. The buyers don't ask about these extra costs, because it does not occur to them that such outrageous obligations might exist.

The owners of Czech castles are sometimes trying to increase their prices on the background of growing house and apartments prices. However the prices of castles are governed by different rules and do not copy residential properties. The prices at which the chateaux are really sold are much lower than advertised prices. During covid the interest in castles was great because of people´s efforts to free themselves from omnipresent covid limitations. Now the demand for Czech chateaux is returning to normal.

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